Olcah that oil has water in it. It still lubes pretty good. It is not so easy to keep water out of our old motors. If it were mine I would drain and change the oil occasionally. Make sure you drain that milky stuff before frease up time. Pulling it apart and reseal when you have time will not always cure the problem! If your motor needs an impeller check, you could tackle the reseal at that time.
dale
